The Sri Lankan rupee ended steady on Wednesday as importer dollar demand was offset by exporter sales amid expectations of dollar inflows from a sovereign bond issuance and syndicated loans, dealers said. The central bank raised the spot rupee reference rate by 20 cents to 152.10.

Sri Lanka expects to raise up to $1.5 billion via a sovereign bond issuance and another $1 billion from two separate syndicated loans. Rupee forwards were active, with two-week forwards steady at 153.30/25 per dollar. Foreign investors also net bought government securities worth 908.9 million rupees ($5.98 million) in the week ended April 26.

Copyright Reuters, 2017